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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: Nouveau_Riche who wrote (65320)	7/19/1999 11:28:00 PM
From: Night Writer	Read Replies (2) \| Respond to of 97611

NR, ORCL also has a Y2k caution in their quarterly report. No big deal was made over it. It might be more of a legal a$$ covering then a problem. However, I'm no expert. You ask for IS responses on the Y2k budget issue. I'm not an IS person. I can tell you something about the IS budget at my old company. IS project other then Y2k were not being worked on. Y2k had priority. When they finish with Y2k, there will be a flood of much needed IS projects to work on. NW

To: Nouveau_Riche who wrote (65320)	7/20/1999 12:17:00 PM
From: Nouveau_Riche	Read Replies (1) \| Respond to of 97611

I would have to say the analyst below has it wrong. It's not buy on the rumor (of good earnings) and selling on the news (of those earnings). What we're seeing is selling on Microsoft's and LU's rumors of slower growth going forward. However, not every one is saying the same thing, most notably IBM. I think this might prove itself to be another buying opportunity (at some point) for the strong of heart (I'm referring to the tech sector here). JMHO. NEW YORK, July 20 (Reuters) - Stocks skidded lower in late morning trading Tuesday, with the technology sector the biggest loser. The Dow Jones industrial average fell 82 points, or 0.74 percent, to 11,106. The technology-laden Nasdaq composite index plunged 79 points, or 2.8 percent, to 2,750. ''The more online traders there are, the more likely people are to take short-term profits,'' said Paul Cherney, market analyst S&P Marketscope. The stocks of Microsoft and IBM were both down after posting better-than-expected results after Monday's close. ''If you ever believed the saying buy on the rumor and sell on the news, that's what you see today,'' said Arthur Hogan, chief market analyst at Jefferies & Co. ''We take some profits and that's exactly what's happening today,'' Hogan said. The American Stock Exchange's index of Internet stocks, (^IIX - news) was down 10.75, or 3.4 percent, at 302. Microsoft Corp. was off 4-1/2 at 95-7/8. Its earnings exceeded analysts' estimates but it warned of a slowdown in demand for personal computers. International Business Machines was down 6-9/16 at 128-3/16. Dick Stein, vice president, chief technical analyst, at the Boca Raton, Fla.-based Noble International Investments said the earnings are coming in positive, as expected, but with cautionary statements, such as from Microsoft and Lucent Technologies (NYSE:LU - news). ''That takes the joy off what people were feeling on seeing the earnings reports,'' Stein said. ''There is just no great enthusiasm there.''